Important information and terms of use

1. Agreement

By using the website www.sfmgroup.com and any of its pages (hereinafter the „Website“), you confirm that you have reviewed, understand and agree to the following important legal information and terms of use (hereinafter the “Terms”). If you do not agree to the Terms, please exit the Website immediately.
The Terms are subject to change at any time without notice and access to, and use of the Website may be restricted or terminated at any time.
Use of the Website as well as the Terms is governed by law of the Grand Duchy of Luxembourg.

2. No offer, no advice

The information, products, data, services, tools and documents contained or described on the Website (hereinafter the “Content”) are for information purposes only and constitute neither an advertisement or recommendation nor an offer or solicitation to buy or sell investment instruments, to effect any transaction or to enter into any legal relations.
The financial products mentioned on the Website are not suitable for all investors. Prior to making investment decisions investors should conduct a thorough investigation and obtain all necessary professional advice.

3. Local restrictions

The Content is not intended for use by or distribution to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which members of the group of Companies controlled by SFM Group International, S.A. (hereinafter individually and together “SFM Group”) does not hold the necessary registration or license. Some entities, services and products of SFM Group may not be registered or licensed under legal and regulatory provisions governing financial services or products and their providers in certain countries (e.g. the United States). Therefore, all users are requested to contact the nearest SFM Group entity for information about products and services available in their country.

4. No warranty

SFM Group provides no warranty and makes no representations of any kind whatsoever regarding:

1. the currency, accuracy or completeness of the Content;
2. the results to be obtained by any user of the Website; or
3. any third party content accessible on or through the Website.

Except to the extent required by current laws and/or regulations, SFM Group, including its directors, employees or subcontractors:

1. disclaims any and all express or implied warranties and conditions including without limitation warranties and conditions as to quality and fitness for a particular purpose; and
2. does not warrant that the Website, the Content (including any third party content), goods and services referred to therein will be uninterrupted or error free, that defects will be corrected or that the Website, the servers from which it is available or any connected website is free of viruses, trojan horses, worms or similar items or processes or other harmful components. In order to safeguard against viruses, it is advisable to use up-to-date versions of browsers and to install and update antivirus software. Users should strictly avoid opening e-mails of unknown origin or unexpected e-mail attachments.

Any data, including but not limited to financial market data, quotes, notices, research or other financial information accessible through the Website, have been obtained from carefully selected sources believed to be reliable. All such information is provided „as is“ to the user without express or implied warranties of any kind, including warranties of quality, originality, non-infringement of intellectual property or fitness for any particular purpose.
The information and opinions in the Website are descriptive of SFM Group as a whole and the products and services described may not be available to or suitable for all investors. The fact that a user accesses the Website does not make him a client of SFM Group.
Any expressions of opinions, estimates and projections on the Website are those of the authors at the date of writing. They do not necessarily reflect the view of SFM Group and are subject to change at any time without prior notice. SFM Group may discontinue, or make changes in, the information, data and documents, and the products or services described herein, at any time without prior notice.

5. No liability

To the maximum extent permitted by current laws and regulations, SFM Group, including its directors, employees or subcontractors disclaim any and all liability for losses or damages of any kind whatsoever arising directly or indirectly as a result of:

1. the Content, accuracy, completeness or otherwise of the Content or any links or third-party content;
2. any errors in or omissions from the Website;
3. use of or access to the Website;
4. any inability to access or use the Website for any reason.

To the full extent permitted by current laws and regulations, SFM Group shall not be liable for any

1. loss of profit or revenue or savings or other economic loss;
2. loss of business or goodwill;
3. loss of or damage data;
4. incidental or special loss; or
5. indirect consequential loss arising from use of or Access to the Website, even if advised of the possibility of any such loss or damage or if such loss or damage was foreseeable.

6. Proprietary information

Unless accompanied by an explicit statement to the contrary, the Content on the Website is protected by copyright, database rights, or other intellectual property rights, and is the property of SFM Group.
Nothing on the Website is designed to grant any license or right to use any image, trademark or logo. No act of downloading or otherwise copying from the Website will transfer any legal entitlement to any software or material on the Website to you. SFM Group reserves all intellectual property rights to all material on the Website, and will enforce such rights to the full extent of the applicable law.

7. Performance

Past performance is not an indication of the future performance of an investment. The value of investments may be subject to fluctuations or changes and investors may not get back the amount invested. Changes in rates of foreign exchange may also cause the value of investments to go up or down.

8. Monitoring

Please note that all your actions while using the Website may be recorded and analyzed for various purposes, including security, marketing and system monitoring purposes.

9. Third-party websites

Links to third-party websites on the Website are provided solely as pointers to information on topics that may be useful to users of the Website, and SFM Group has no control over the content on such third-party websites. No warranties or liability concerning the content of such websites are made. Nor does SFM Group warrant that such website or content is free from any claims of copyright or trademark or other infringement of the rights of third parties.

10. Data transfer/processing

Whilst SFM Group takes measures to ensure that your personal data cannot be intercepted by third parties, please note that when using the Website, data is transported over an open network (Internet) which is accessible to third parties and which cannot be regarded as a secure environment. SFM Group may transmit or store any data provided by you when using the Website outside your country of residence. In such cases, SFM Group will make every effort to secure an appropriate standard of protection for your data, taking account of the applicable legal and regulatory requirements, including those relating to client confidentiality and data protection, but it is possible that data may be relayed to a country in which the prevailing standards of data protection are lower than in your country of domicile. SFM Group accepts no responsibility or liability for the security of your data during transmission via the Internet.
SFM Group does not use this Website to collect any personal data, except where you explicitly and knowingly provide such data.

SFM GROUP January 2008